Below are shown the annual sales (in millions) for the Sweet Palm Life Insurance

Question

Below are shown the annual sales (in millions) for the Sweet Palm Life Insurance Company in 5-year periods.

In the data set above, the dependent variable is SALES and the independent variable is YR CODE.
True or False

Below are shown the annual sales (in millions) for the Sweet Palm Life Insurance Company in 5-year periods.

YEAR YR CODE SALES DATA POINT SUMMARY STATISTICS (X) (Y) CORRELATION COEFF.   0.983 1968 1 0.35 N MEAN STDEV 1973 2 0.48 YR CODE 5 3.000 1.581 1978 3 0.58 SALES 5 0.552 0.140 1983 4 0.65 1988 5 0.70          

Explanation / Answer

True

The regression equation of Y on X is

Y = a+bX

Where a = Intercept

b = Slope

Y = dependent variable

X = Independent variable

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